RTX Co. (NYSE:RTX) Receives $153.47 Average Price Target from Analysts

RTX Co. (NYSE:RTX) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $153.47.

Several brokerages have recently weighed in on RTX. The Goldman Sachs Group lifted their price objective on RTX from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Bank of America raised shares of RTX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $110.00 to $140.00 in a research report on Wednesday, July 31st. UBS Group increased their target price on RTX from $103.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Robert W. Baird increased their price objective on RTX from $105.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company lowered their target price on shares of RTX from $491.00 to $467.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 24th.

RTX Stock Up 0.9 %

RTX opened at $116.15 on Wednesday. The business has a 50 day moving average price of $106.44 and a 200 day moving average price of $100.46. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.73 and a current ratio of 0.99. RTX has a twelve month low of $68.56 and a twelve month high of $118.30. The firm has a market cap of $154.51 billion, a P/E ratio of 45.55, a price-to-earnings-growth ratio of 2.02 and a beta of 0.82.

RTX (NYSE:RTX) last released its earnings results on Thursday, July 25th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.11. RTX had a return on equity of 11.37% and a net margin of 3.12%. The firm had revenue of $19.72 billion for the quarter, compared to analyst estimates of $19.29 billion. During the same quarter last year, the firm posted $1.29 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Research analysts forecast that RTX will post 5.44 EPS for the current year.

RTX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. RTX’s payout ratio is 98.82%.

Insider Activity

In related news, Chairman Gregory Hayes sold 134,887 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the transaction, the chairman now owns 566,723 shares in the company, valued at $66,725,966.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Dantaya M. Williams sold 17,570 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $114.87, for a total value of $2,018,265.90. Following the transaction, the executive vice president now owns 38,855 shares of the company’s stock, valued at approximately $4,463,273.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Gregory Hayes sold 134,887 shares of RTX stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $117.74, for a total value of $15,881,595.38. Following the sale, the chairman now directly owns 566,723 shares of the company’s stock, valued at $66,725,966.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 178,333 shares of company stock valued at $20,861,880. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On RTX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors boosted its stake in RTX by 4.2% during the 1st quarter. Capital Research Global Investors now owns 94,191,735 shares of the company’s stock worth $9,186,520,000 after acquiring an additional 3,761,246 shares during the last quarter. Capital International Investors grew its holdings in shares of RTX by 4.8% in the 1st quarter. Capital International Investors now owns 68,394,575 shares of the company’s stock valued at $6,670,523,000 after buying an additional 3,161,165 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of RTX by 82.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,309,688 shares of the company’s stock worth $1,288,157,000 after acquiring an additional 6,932,011 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of RTX by 2.0% during the first quarter. Clearbridge Investments LLC now owns 10,938,655 shares of the company’s stock worth $1,066,847,000 after purchasing an additional 213,331 shares during the period. Finally, Sanders Capital LLC raised its holdings in RTX by 6.8% during the 4th quarter. Sanders Capital LLC now owns 10,674,438 shares of the company’s stock worth $898,147,000 after buying an additional 677,520 shares during the period. Institutional investors own 86.50% of the company’s stock.

About RTX

RTX Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers in the United States and internationally. It operates through three segments: Collins Aerospace, Pratt & Whitney, and Raytheon. The Collins Aerospace Systems segment offers aerospace and defense products, and aftermarket service solutions for civil and military aircraft manufacturers and commercial airlines, as well as regional, business, and general aviation, defense, and commercial space operations.